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hey if you ever wanted to know what is the first thing I need to form out when following the Daily Success plan you're listening to the right episode we've got Kristen with Kristen's Corner my man Carl white and you are listening to the loan officer leadership podcast powered by the mortgage marketing animals and man we've got a great topic that came straight out of the loan officer Breakfast Club Facebook group and so Kristen we got a great topic I think you're going to stump Carl today uh oh is this is this the game we're playing stump Carl today well we could try hey I'm pretty easy to get stumped I just want to say you know that uh it doesn't take much you know these are the best episodes man you always got something good coming up so so the uh the spelling bee uh the big I guess it's National or a world it must be National Spelling Bee just finished up and um what was the word dude I can't even print it I don't even I like I shouldn't have even brought it up because like I don't know I couldn't spell it it was one of those things like it was it started with an s but it didn't it started with a p you know it was like like look like phone why didn't they just use f-o-n-e I don't know why did they do own like I have I've never understood that so but anyway that's totally off topic we'll probably edit all that out um so uh so what's up what's our topic okay so we were on The Breakfast Club this morning and somebody had submitted the question hey when we're doing the DSP and we're working it and we start to hire help or we're looking to hire help and assist in a loan partner and Loa whatever that winds up being what is the first piece of the DSP what day do I farm out first and uh Carl you were answering the question and Steve and I know you had a bunch of numbers around this Carl as far as hey when you get to this many loans a month I'm going to farm out this and and and then the next piece is this and it got me to thinking for the majority or or a good portion I should say of the people on that call and maybe our audience too um it might be the wrong question um and what I mean by that is if this is my money making activity man that's the last thing I'm gonna Farm out so maybe I'm not looking at which day of the DSP do I want to give somebody else to do which is my top dollar activity this my money making activity right my non-negotiable maybe the question is what else am I looking to to farm out what else do I need somebody to do so I thought maybe we could talk about that so what you're saying uh Kristen is and for if somebody's new here our data success plan is our uh theme days where we make our phone calls and so Mondays to our agents and Tuesdays are update calls and Wednesday pass database Thursday and pre-approved looking using a very specific script uh that's worked and with a call to action to for them to refer us business right and so the question was when do I which which part do I farm out first of my daily sales activity and and man I I think this this could be the shortest episode ever Chris because I think you already answered it yeah it's like is a sales activity what you want to farm out or is it everything else talk about that a little bit Kristen yeah well I was you know as as we were starting to answer that question in my head I was going on in a totally different direction than kind of where we wound up going which is which is totally fine I love that's why we it's not fine because you were you were 100 right we're we're sitting there trying to solve a problem that shouldn't even exist well yeah we were at a y in the road and I was going One Direction and you two were going the other direction I thought oh man I'm really off base but then the more I thought about I'm like well for a large you know a large chunk of our audience maybe I'm not off base and that is until I've taken everything off my plate that is not a money making activity and we can talk about what those things are man I'm not giving somebody else that job I'm not having somebody else call my database unless I physically don't have time because you know of you know there are other things that I'm going to look at to take off my plate first and so that's where I was going with that you know what Steve when she said that I I thought you know she she showed us up so people say once you have Kristen on more often this this is why right she uh it's the wise answer yeah that's it you've got to stay close to them Steve and I are sitting here trying to look smart and then Kristen comes in and just bowls is all over you know it's like holy cow that was that was absolutely because like if we look at that yeah the first thing I was thinking of when she was going through that is like all right let's take the average loan officer now I don't know what the average loan officer makes right I'm sure I could Google it and there's a number that comes up and this but that's also going to include the salaried you know uh uh W-2 loan officers at work at Bank of whatever Tampa and I'm just making that name up right uh but like I'll use and I in in our coaching group like and again I'm just making up this number because I I guess it'd be easy enough to find out the number and I'm sure we do know what the number is I just don't have it here in front of me but let's say they like if you look at the bell-shaped curve I would think that the probably the the middle of the curve is I don't know 400 000 500 000 and we have people making two three four million dollars a year as a loan officer right closing loans uh not as the owner of the mortgage company because we have owners that are making much more than that but let's just say 400 000 is average right just whatever happened hypothetically all right the average processor is making and I'm just again I'm gonna just grab a number 60 000 yeah maybe it's 70 maybe it's 50 but let's just say it maybe it's 65 but let's just say it's 60 000. so we have the sales person making four hundred thousand we have the support team making sixty thousand and so the loan officer saying hey I'm gonna offload the 400 000 part um and so I can do more of the six so I can I can be my processor's assistant I guess and if the processor's making 60 000 I guess the processor's assistant I don't know 40 35 30 maybe 45 somewhere in that neighborhood so Kristen what you're saying is look we're sales people if I farm out the sales activity what the heck am I what what am I going to be doing yeah and I think there is a time when you get to that production level right where some of those activities you do need help with you physically can't your whole day is consumed with that but for the Lion Share of people that's not it yeah yeah yeah offloading your sales Activity part is like you know you're you're you're you're paying somebody twenty dollars an hour to do a four hundred thousand dollar a year job yeah and and their they're likely not going to be able to pull that off right I mean just just because if they were if they and I mean it's just the reality of it if they were a great salesperson yeah oh I don't know they'd be a salesperson right and they'd be making four hundred thousand dollars right and I'm not saying one is better than the other they just get paid more like I don't think truth be known I don't think Tom Brady's any better of human being than I am right just being honest right I don't think he's got anything on me or you Kristen or you well maybe Steve but you know I don't think I don't think it's got anything on us right now does he throw a football better yep does he get paid way more money oh yeah doesn't make him a better person right and so it doesn't make us better people that we're making more than our processors it just means that throwing the ball apparently is a more valued yeah thing to the world than being a great loan officer or my case a great branch manager right that a great arm is going to get paid more it doesn't make him a better person so when we're talking about these things I want anybody to get the wrong idea that I'm saying oh those little people down there right I'm not saying that at all it's a very important job it's just if they were a great salesperson they'd be oh I don't know a salesperson so it'd be like Tom Brady saying hey I think I want to farm out the third quarter [Music] I need to go mow my yard I I got to go change the oil in my car I gotta go I gotta go check uh make sure that the helmet polisher is doing a good job right so I'm gonna have somebody else come in and take over the third quarter no it's like you farm everything else up out so you can do more of of the sales part and and I agree with you uh that at some point you do have to start farming that stuff out but I would say what do you think like Steve anything anything under 25 units a month shouldn't even think yeah I mean you're not even going to start forming that out until you you'll do 20 plus units a month whenever you have a full focus 40. and so you shouldn't even consider farming any of the sales out until you're well over 20 units a month 100 agree with that and even then I'm not farming it out I'm farming it in right because I'm gonna have somebody who's my assistant coming alongside to do the sales activity job yeah well that was a great analogy though I mean think about that Tom Brady would never say hey I got a sub coming in third quarter I mean I think we're ahead enough we're going to be good I love it it's almost like every position is there to keep everything off of the quarterback to do only what the quarterback can do and you're the quarterback of your team hey and Kristen we have something for our listeners in our community we use called the I was thinking about the acts of freedom because there are people that you need in place like you need a great back-end loan partner if you're still chasing conditions whether you're doing one unit a month or whether you're doing 30 if you're touching anything after the handoff then we've got to get that solidified for you then once you hit I don't know about one and a half to three million a month you need somebody on the front end we call that a pre-approval specialist what they're doing is taking they're blocking and tackling the non-cell activities so that you can stay focused on being close to the money your two hours of outbound calls Monday through Thursday you're you're doing the loan consultation you're doing the things that make you the most money hey so talk like on the acts of Freedom why don't we do this if you go to freedomplanningcall.com freedomplanningcall.com I will walk you through something we've done to help people say okay I've got all this stuff coming at me but how do I know what to stay focused on and it's very strategic in its exercise in order to help you know hey do I have enough help do I need more help or what do I need to do to stay focused on the right activity that'd be a great thing to give them so freedomplainingcall.com absolutely hey one thing I was thinking about so acts of freedom is probably where I'd start um see what you're doing that is non-money making activity find out what's coming in the way of you making your calls Monday through Thursday 9 to 11. that is absolutely what you've got to do on that and then and just keep in mind there's great support that can be had so man what a great topic you know I would I go back to um a lot of times on this kind of stuff I go back to what Ralph taught me one time early in the game is Carl as a as a loan officer you know you really have to Define what a loan officer is and and frankly different organizations uh are gonna have a different idea of what that loan officer is right so and I'm not saying they're right or wrong right I'm just saying for me this my definition my definition of loan officer is the person that makes the phone ring it's not the person that looks at the tax returns or the person that looks at the W-2 obviously very important stock it's not the person that orders out the file important stuff not closing without it but that's not the loan officer that the loan officer is what Ralph taught me does all the stuff that happens before the phone rings that's the loan officer after the phone rings well we can start delegating that stuff out pretty quick in the game and you're going to need to even even closing a modest three or four loans a month in in my world and I know Steve with your branch uh somebody's closing three loans a month they got an assistant right they got a back-end assistant they don't have somebody helping them make the sales calls right they got somebody that's once the phone rings if they're meeting with an agent they'll answer the phone for the loan officer and if the loan officer wants them to go ahead and start taking the application not placing the loan not talking about loan programs but just you know instead of have saying instead of instead of that person the borrower or the realtor hitting a recording saying that you'll call them back later today they're actually on the phone with somebody that'll actually start taking a licensed persons right that'll actually start taking the application so I can see farming that part out so I'm I'm teaching at the realtors association this afternoon and so if somebody calls to um take an application my God we want somebody to God forbid we want somebody to actually take the application yeah which which is not rocket science we're talking about name phone number date of birth yeah this is easy stock right we try to make it I try to make myself sound like a special person that I can actually take a good app it's just just it's just filling in the blanks right that's not where the money is the money is getting that person to call in the first place is that before the phone call so I would man I for some homework I would make a list here's all the activity that happens I do before the phone rings and here's what it is after and I would look at that after and the later it happens in the file that's what I would Farm out first so I'd actually do it in reverse order I wouldn't the things that happened early in the game I don't I wouldn't Farm out at first yep things that happen toward the end I would like that that for me that's the easiest way to decide what do you farm out and what do you don't when does it happen in the process and it's strictly that so uh yeah don't Farm out the sales part so that's that's until you hit a certain point again you know that that's that's that's where the money is at what point Steve do you uh so somebody has a back we're gonna call let's call it a contract to close assistant in your branch I mean that like everybody walks in the door gets one of those they won't get one yeah you got to keep them out of the file once they hand it off what about what about on the when do I get some help on the front end in other words pre-approval specialist yep somebody who's doing the same lift on the back end on the front end your your p l allows you to have shared help between one and a half and three million so once you hit the one and a half million give it to me in units because somebody in San Diego's will be different than mine in Ohio yeah I mean you're looking at so it's it's both and though Carl because you're not paid p l the p l and paid in units so you know I get it but give me a unit's average I'd say between four and four once you hit four to five units a month and you need a p l that supports a shared front-end pre-approval specialist and you've got the same in your pipeline for the concurrent month as soon as you close it you get a shared pre-approval specialist because what happens is when you're closing four or five units a month you're getting about 20 to 30 relationally referred leads you need somebody who's helping you set up those files chasing the bank statement the pay stubs somebody who's sending out the pre-approval they're doing all the busy work on the front end so I'd say between four and six absolutely and the p l can really support it between a million and a half and really two and a half depending on what types of loans you have but then that's where you have a shared pre-approval specialist you split it with a couple of people and you've got somebody chasing once you break about three million and probably 10 units that's where you need dedicated front-end support and then your back end so your back ends where you start and then as your front end volume grows you get the front end support and then as they go dedicated they help you lift till about 15 16 units and then you probably need to add another back-end team member yeah Christian what do you think and and we really appreciate all the questions right oh these are great because they give us different perspectives where do you think this question what do you think the re you know what I just thought of something Chris in this question is really hiding there's a real question hiding behind this one so when that loan officer is asking this question what do you think his real question is I think the real question is who can I get to make these calls for me because I don't want to don't that's it that's the real question yeah and I agree with you and and you know when we think about this whole process right and no judgment there but when when we start to get some loans in the door and we feel that weight of okay I got a lot going on here right I got a couple loans in the pipeline there's lots of things moving lots of moving Parts I I think right then and there we have to stop and ask ourselves what am I doing right now that somebody else could be doing that allow me to do more of the sales activity yeah not more of the busy work there's a reason it pays 400 000. yeah that's right yeah I mean that's that's that's just online it's it's there's a reason there's a reason hey let me tell you something my F this is going to sound Steve I've shared this with you I don't know if I've ever shared with you Kristen my favorite job I've ever had my whole life was doing some volunteer work at a uh Salvation Army Thrift Store right so literally working I did this probably about 25 years ago I was thought I was probably like in my early 40s and uh probably about 40 41 42 something like that and uh I did a volunteer work at a uh at a you know the little corner stores of the Salvation Army Thrift Store it was it was my favorite job in the whole world because I didn't have to think right I just showed up and my hung clothes I mean I just did scutwork and I loved it I'm just being I loved it it was like it sounds crazy but my favorite job I've ever had paid zero right or you know it paid zero dollars let me just say it that way because it paid me a huge amount just not in dollars right and uh uh so you know but there's a reason why it paid zero dollars because I'm hanging clothes up I'm you know I'm putting lamps on tables right I'm doing like for all practical purposes brainless stuff sure and there's there's a reason why Tom Brady makes the kind of money he's making it's got you got these 300 pound linebackers trying to take out his knees right high risk yeah no it is high risk you know we think of a bad day as a loan officer oh no no no no our bad nobody nobody I'm not I might feel like I'm limping but I'm not actually limping right and so there's a reason why it pays four hundred thousand dollars it's hard work now is it same kind of hard as uh you know as as I'm looking at my window here and they're planting some flowers so there's a guy bending over digging in the dirt is it hard like that no but it's but it is hard right it is hard and there's a reason why it pays 400 000 hell I don't want to do it either if I wanted to do it well it wouldn't pay four hundred thousand dollars right that's that's just how that works and so we get paid for something for doing something that we might not like hey would you do this for free no I'd much rather be out on a boat with my dear friend Krista my dear friend Steve I'd much rather be on a boat with you guys um but that's why it pays right and if you want to if you want to do if you want to do processors work which is awesome work uh then be a processor if you want to do sales people work and get paid sales people dollars you got to do things that I feel uncomfortable making these calls well yeah welcome to the club me too I just do it anyway Chris I know you make a lot of phone calls right there's zero you'd never say it but there's zero chance you feel like making those calls every day right you just do it anyway right because you know you you appreciate the results that it gets you Steve same thing with you same thing with me you know so hey and Carl that goes back to this you know I just was thinking about it goes back to discipline over time turns into desire you know it's interesting I've watched you ride your bike for the last several years every morning 20 plus miles in the morning in the beginning I'm sure you didn't wake up and say man this feels great but now literally every time I'm with you you're like if you miss a day you're like brother I gotta go find a bike I gotta take a walk and and I'm just reminded that discipline over time when consistently executed will turn into desire and then desire will turn into devotion it just takes a time and when you see results and you see what the activity brings for you your family your business your Realtors your partners and the impact we can make I think what we fail to do is the discipline is inactivated long enough for it to convert into desire I've got a bunch of people in my Branch it's funny we've been really pushing on this for months and months and months and you'd be shocked with how many of them are saying when I miss a day it is so weird I love these calls and in the beginning it wasn't the desire of hey I'm seeing results these results are keeping me moving it was strictly disciplined I wake up I show up I execute my calendar make my two hours of calls nothing interrupts that and then I start working in the business after that so and you know you're you're right that that actor After Time it's a devotion like it's like I can't not do it yeah it's it's uh that's like this morning uh my son's moving back from Boston moving back here to the Tampa area and so uh so Marie and I flew up to Boston on what was it Friday I think it was and uh I went and picked up the U-Haul truck and we had some uh what was it actually Maria ordered it what is it College Hunks yeah so I thought you know I'll go with you honey I'll I'll join you on this trip you know so uh so they loaded up the truck and uh and then had another guy uh Drive the U-Haul truck down here and uh because from it's a long drive right I didn't feel like doing it so um so anyway the the the the driver says he's going to be here at seven o'clock this morning and I told Maria I said well hey I'm going to get up extra early which was four o'clock and uh I got to be on the road by 4 15 to do my 25 miles to be back in time uh you know to get back take a shower and be ready you know when the when the driver comes at uh 6 45 uh you know to be ready when he gets here but because of the idea of not going on my ride was just I I yeah it's just it's just become a habit so even on these would I rather sit and watch Tom an old rerun of Tom Brady on playing football I I you know actually maybe not you know come to think of it so maybe after a little while these uh these activities become such an ingrained part it's like brushing our teeth in the morning you know it's just it's just you don't even think about it it's just that's what you do so that's it good stuff Kristen you always come over these great you always come up with these great uh topics great questions and uh you know it's just you're such a gracious person because you you already have a better answer than everybody else you're too humble to say this but you already so you already better right you'll say well Steve what do you think and Carl what do you think well that's good but I got a better answer I got a better answer now you never say that but but you don't have to say it better because we all know we all it's it's an unset it's the better answer yeah right hey well if you're listening today and you say hey I want somebody to help walk me through an acts of Freedom even maybe help me look at my team and how to make sure I'm focused on the sales activity go to freedomplanningcall.com myself Carl Kristen one of us will walk through 45 minutes of just invested time in you and your business so you walk out of the call with a real plan that helps you get big results so freedomplanningcall.com and thank you for being a part of the podcast remember to subscribe share tell us how this is impacting you and anything worth doing is worth doing badly just get started so you [Applause] [Music] thank you